Silver coins and silver bullion
Silver coins and silver bullion
The silver market offers investors a variety of products. US pre-1965 90% silver coins, which were used as money until the mid-1960′s served both as an investment medium and could be used as “survival” coins should our monetary system fail as many people fear. Nearly as popular as pre-’65 US, 90% silver coins are 1-oz silver rounds. Just behind silver rounds are 100-oz investment bars. Other favorite silver bullion products include. 1-oz American Silver Eagles; Ten-ounce bars.
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When intending to own silver that are inexpensive and convenient, it is better to have the privately-minted Silver Eagles. They have their weight and purity (999 fine) stamped on them making them easy to sell or exchange. They are called “privately minted” because they are produced by a private mint. The American Silver Eagles, on the other hand, are struck by the US mint and are considered “legal tender”, officially being coins. Privately minted Silver Eagles are so named because the obverse side (front) of the coin depicts an eagle flying through the sun.
Both the US mints legal coins and the privately-minted Silver Eagles contain one ounce of 999 fine silver. The US mint’s Silver Eagles carry a substantial premium over the privately-minted Silver Eagles. Normally, the Canadian Silver Maple Leaf are priced below the American Silver Eagles but higher than the privately-minted Silver Eagle. The pre-1965 US silver coins-circulated and uncirculated. US dimes, quarters, and a half-dollars dated prior to 1965 were minted of 90% silver/10% copper.
There a many common-date uncirculated coins available but compared to circulated coins, they carry premiums. Numismatist (coin collectors) are sometimes called circulated coins or “junk coins” because they have no collector’s value. Although silver dollars also were minted of 90% coins in 10% copper they are called 90% US coins. Half-dollars dated 1965-1969 contain only 40% silver and are traded as 40% clad-Half dollars. Because US mints originally shipped 90% coins in ,000 face value bags, today a “bag” refers to ,000 in face value. A bag of dimes contains 10,000 coins, a bag of quarters 4,000n coins, and a bag of half-dollars 2,000 coins, However, pre-1965 US coins are often sold in quantities smaller than ,000 face value. When minted, a ,000 face value bag contains a yield of 723.4 ounces of silver. Due to wear, however, a bag of circulated coins is approximately 715 ounces when refined; therefore to calculate an accurate price per ounce, divide the cost by 715. A bag weighs a little under 55 pounds on a bathroom scale.
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A drop shipment occurs when the selling dealer has another dealership of coins to the buyer and he buyes another kind of coins. This saves the time in selling firm postage. Typically a bag of 90% silver dimes consist mostly of Roosevelt dimes, with mercury dimes making up the rest invariably.
Mercury dimes (sometimes called winged head) show more wear than the Roosevelt dimes due to the longer time they functioned as money. A bag of all Mercury dimes sells at a premium over a bag of circulated dimes. Occasionally, a bag of dimes yields a few Barber coins. Rarely do the older Draped Bust (1796-1807). Capped Bust (1809-1837), or seated Liberty designs appear in circulated bag. Dimes runs in Roosevelt type 1946-1964, Mercury type 1916-1945, Barber type 1892-1916, Quarters are classified into Washington type 1932-1964, Standing Liberty 1916-1930, Barber or Liberty head 1892-1916.
Bags of quarter coins contain mostly Washington type coins with a few standing Liberty types and still fewer Barber types. Invariably, standing Liberty and Barber coins will be quite worn, but sometimes a bag will contain a few of these older coins with readable dates. Rarely will a bag yield any Seated Liberty coins (1838 to 1891). Half dollar coins comes in four denominations, Kennedy type 1964, Franklin type 1948-1963, walking Liberty 1916-1947, Barber or Liberty Head 1892-1915. A pre-1965 half-dollar bag usually includes Kennedy and Franklin types and a few of Walking Liberty coins and maybe a little of Barber halves. Promotions, however, can cause one coin to rise in price relative to the other types.
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